Are you interested in selling your toy, games and video games products in chains? Have you ever wanted to approach GameStop, ToysRUs.com or any other chain store retailer?
If the answer is yes, then you’ll find value in this short video training, focused on selling Toy Games and Video Games Category products to retail chains. No prior experience is required!
In this video we provide insights on what steps to take and how you can get started today.
Toy and Game Category
Now lets delve into the toy and game category and consider an points. Firstly it’s worth noting that ToysRUs is currently not operational (at least for now) despite some relocations that have taken place. This has resulted in challenges for the toy industry as a whole. Many individuals find themselves having to sell their products through toy stores due to the decrease in chain store presence.
While there has been a shift over the few years, with numerous online retailers emerging it’s clear that the landscape has transformed.As I am speaking to you now things might have changed by the time you get to watch this video. However there have been some shifts, in the toy industry for quite some time now. Specifically the involvement of distributors has altered the landscape.
The reason I mention this is because when you aim to sell your products to retailers those with stores or when extensive market coverage is required distributors enter the picture. These third party companies essentially purchase your products. Then resell them to retailers with their network of sales representatives.
In the toy and game industry there are distributors who cater specifically to this niche market. This becomes especially apparent when there are brands competing for attention. Unlike product categories where distributor involvement may be limited in the toy and game sector there are a plethora of distributors actively operating.
This is largely due to both competition, among corporations and the nature of the toy industry itself which demands a higher level of direct marketing efforts to ensure widespread product availability.
Distributors well they’re basically companies that have a bunch of representatives who go out and put in the effort to promote and sell products. They act as the middlemen, between you and the stores where your product will be available.
Toy and Game Distributors
So for your category it’s more likely that you’ll have to rely on someone to handle the relationship with these stores. In words you won’t directly approach the stores yourself.. Keep in mind that if this happens you’ll have to give a cut of your earnings to these distributors. Typically in the toy business it can range from 10% to 30% depending on the deal you strike with them. So just be prepared for that possibility.
Also remember that this category is highly competitive but quite enjoyable. It’s worth noting that distributors are quite common, in this industry. Your main task would be convincing a distributor to take on your product. Ultimately get it onto store shelves. The process of achieving this might take some time to explain thoroughly. I have videos where I delve into working with distributors and such which could give you an idea of how things work in this industry.
When it comes to toys and games toys there are regulations to consider. The safety of children is a priority and therefore selling toys requires adhering to regulations imposed by health codes and other guidelines. These regulations ensure that the products are suitable, for children of ages and protect them from hazards.
Retailers have their expectations when it comes to selling toys. It’s important to understand their requirements before approaching them with your products.
Additionally obtaining product liability insurance in the toy industry may come at a cost. This is because insurance providers factor in the risks associated with dealing with children’s products. The need for increased safety measures due, to regulations also contributes to the premiums.
Overall navigating through these regulations and considerations is crucial when entering the toy market and working with retailers.It’s not a deal because many people are buying toys children all, around the world. However it’s worth considering some factors.
Advice for Toy and Game Products
One advice I often give is to explore the toy industry’s complexity involving distributors and various owned stores. In this regard it might be beneficial to approach retailers like Walmart or Target for selling your product.
There are retailers out specializing in toy products, including department stores. So it could be advantageous to expand your reach beyond focusing on that industry. For example if you have a game product you can consider approaching GameStop and others. This way you can overcome the competition in one market. Diversify into other types of retailers as well. It’s definitely something considering.
When dealing with a toy product establishing connections and forming associations, with individuals who share interests is crucially important.There are toy industry associations available so you can try doing a Google search to find them and establish connections. These associations can be quite helpful, in expediting your understanding of the industry and your specific category. It’s always beneficial to stay updated on the happenings in your industry especially when it comes to toys as the competition is fierce.
Often these associations provide ideas, strategies and support because they possess knowledge of the industry. I recommend joining your association. Additionally if you’re interested in attending trade shows, the Toy Fair in New York is highly. Offers an opportunity to explore your competition and stay informed about industry trends. It’s definitely worth considering.
Now if I were to provide you with some tips and strategies, for selling toy and game products to retailers it would be essential for you to expand beyond the local toy store in your area. There’s actually an opportunity to make money by selling your products in chain stores that people often overlook.
In fact you can even approach retailers, like Ace Hardware and Michaels Stores to sell your toy product. There are plenty of retailers beyond the toy store industry who would be interested in buying your product. There’s more to discuss about toys and games but if you’re interested in learning how to approach, pitch and sell to retailers I suggest checking out what we have to offer.
We actually provide training at retailmba.com/free. Additionally we have a 90 minute training session where we delve into what buyers care about and explore different ways we can support you if you’re interested. Our support includes events, coaching programs, done for you solutions well as do it yourself programs. All designed to help consumer product brands generate revenue. We’ve had the pleasure of working with toy companies and game companies
So if you’d like to learn more about our offerings please visit retailmba.com. Take a look, at our webinar which is listed on every page of our website.
We constantly produce content so make sure to subscribe and stay connected with us. We regularly share information. I genuinely hope it proves beneficial, to you. Moreover we would be thrilled to assist you with your chains. I am Karen Waksman, Retail MBA and I sincerely value your support. Thank you much.
Transcript Outline For Toy and Game Products Category
Hey everyone! I’m Karen Waksman, the founder of Retail MBA. Today we’re going to discuss an topic; how to effectively sell toy and game products to retail chains. If you have a toy or game and you’re wondering how to navigate the world of retail and find the places to sell it I’ve got some valuable tips and strategies for you. Lets dive in and get you started on your journey.
an introduction, about myself once more. I’m Karen Waksman, the founder of Retail MBA Brands. Over the 11 years I’ve had the privilege of teaching than 50,000 product companies worldwide on how to successfully land their products in retail chains, online retailers, catalogs, smaller retailers, HSN, QVC and many other platforms. The insights I’ll be sharing with you today are based on my experience in selling products to chains. In fact my passion for helping others achieve their dreams of earning money from their consumer products has led me to develop these methodologies that have proven time and time again. Our main aim here is simply to provide you with ideas and guidance so that you can take action away. To learn more about what we do, at retailmba.com.
Anyway lets discuss the toy and game category and consider some points. Firstly with the closure of Toys “R” Us, at least for now the toy industry has faced some challenges. Many people now have to rely on toy stores or sell their products individually due to the decline of chain stores in this sector. While there is an presence, overall there has been a noticeable shift in recent years. It’s important to note that this information may change by the time you watch this video as things are constantly evolving within the toy industry.
This shift also affects distributors who play a role in selling products to retailers, with stores or when extensive sales representation is required. Distributors often have sales representatives who facilitate these transactions.There are third party companies that act as intermediaries, purchasing products from you and then reselling them to retailers. These companies often specialize in industries, such, as toys and games. In industries with brands there tends to be a higher number of distributors.
While some product categories may not have distributors involved the toy and game industry is known for having distribution channels. This is partly due to the competition among corporations and also because the toy industry requires extensive on the ground presence to ensure widespread product availability. Distributors are companies that employ representatives who actively promote and sell products on behalf of manufacturers in stores.
In your category it’s likely that you will need to work with a party who will manage the relationship, with retailers on your behalf. In cases you would compensate them by sharing a portion of your revenue.
Well you know when it comes to working with toy distributors the commission they take can vary from 10% to 30% depending on the agreement. So it’s important to keep that in mind.
Also the toy industry is highly competitive but quite enjoyable. Just remember that distributors are quite common which means you’ll need to convince them to carry your product and get it into stores. The process of doing may take some time. I have videos where I explain how to work with distributors and all that if you’re interested, in learning more about this industry.
Now when it comes to toys and games toys there are a lot of regulations in place because safety is a concern for them. They don’t want any choking hazards or anything like that when selling products, for kids.
So you’ll have to navigate through regulations and health codes to ensure the safety of your product especially when it comes to children of age groups. It’s important to consider these factors.
Retailers have their expectations and requirements so it’s crucial to understand what they need from you. Additionally insurance costs may be slightly higher, for toy manufacturers due to the risks associated with children. However since toys are, in demand and many children worldwide enjoy them it’s a factor considering.One piece of advice I often give is to consider targeting retailers, like Walmart or Target when entering the toy industry. These larger corporate level retailers have a reach. Can simplify the process of selling your product compared to dealing with individual stores. There are department stores and other retailers that specialize in selling toys so exploring beyond the toy industry could help mitigate competition. For instance if you have a game product you could also approach GameStop. It’s important to step outside your comfort zone and explore types of retailers to minimize challenges. Take into account that connecting with individuals, in the toy industry through associations can be extremely beneficial. You can easily find these associations through a Google search. They can accelerate your understanding of the industry and your specific category.
It’s always important to stay updated on whats happening in your industry especially when it comes to the toy industry. It’s a field and being aware of the latest trends and strategies can be very beneficial. Joining your association is a way to gain insights and support, from experts who have extensive knowledge of the industry.
Additionally if you’re interested in attending trade shows, the Toy Fair in New York is incredibly popular. It offers an opportunity to explore your competition and keep up with the happenings in the industry. It’s definitely worth considering as part of your business strategy.
Now if I were to provide you with some tips and strategies I would suggest going beyond focusing on local toy stores when targeting retailers. There is potential for sales by approaching chain stores that others might overlook. Retailers like ACE Hardware and Michaels stores may also be interested, in carrying your toy product. Exploring these avenues can open up possibilities beyond solely relying on traditional toy store outlets.
Well there’s actually a lot more to discuss when it comes to toys and games. If you’re interested, in learning how to approach, pitch and sell your products to retailers I suggest checking out what we have going on. We offer a training session at retailmba.com/free. Additionally we provide a 90 minute training where we delve into what buyersre looking for and more. We can explore ways in which we can assist you if you’re interested in receiving support. Our services include events, coaching, Done For You programs and do it yourself programs. All geared towards helping consumer product brands generate revenue. We have had the pleasure of working with toy companies and game companies well.
If you’d like to learn more about our offerings please visit retailmba.com. Take a look at our webinar which is accessible from any page on our website. It’s worth mentioning that we constantly create content so subscribing will keep you updated with the information. I hope this information proves helpful to you! We would be thrilled to assist you with your endeavors. This is Karen Waksman, from Retail MBA extending my appreciation for your time and consideration. Thank you!
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In this training, I will discuss some of the things to think about when approaching a retailer to sell your products and become a vendor. Hope it helps! 🙂
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